To the Editor-

The recent letter regarding the rise in college student loan rates from 12 student body presidents from colleges across Iowa begs the question- do college students NOT read their loan contracts BEFORE they sign them?

If I buy a house with a balloon mortgage at 5 years, why should I even CONSIDER crying to the banker when the rate goes up after 5 years? Holy cow, you college kids, didn’t they teach you ANYTHING about money in college?

Money isn’t free and expecting someone else to help pay for your indebtedness while enjoying your cell phone service, personal trainer, party style weekends or the $5 latte is simply wrong.

Accept the responsibility that came with the loan agreement you signed and don’t expect the government to bail you out. You call it an investment in Iowa’s future- I call it sucking on the government’s teat.